Synergy Asset Management LLC Sells 1,512 Shares of Abbott Laboratories (NYSE:ABT)

Synergy Asset Management LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 55,310 shares of the healthcare product maker’s stock after selling 1,512 shares during the period. Synergy Asset Management LLC’s holdings in Abbott Laboratories were worth $6,274,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ABT. Groupama Asset Managment boosted its holdings in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories in the third quarter valued at $32,000. Valued Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new position in Abbott Laboratories in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.4 %

NYSE ABT opened at $127.86 on Thursday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $129.85. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $221.77 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The business’s 50-day moving average price is $115.71 and its two-hundred day moving average price is $113.80.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the firm posted $1.19 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Piper Sandler upped their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.06.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.